Coursera's Slowdown In Growth Likely Remains Near-Term Overhang, Analyst Says
Coursera's Slowdown In Growth Likely Remains Near-Term Overhang, Analyst Says
Open online course provider Coursera Inc (NYSE:COUR) reported first-quarter FY24 quarterly sales of $169.1 million, which missed the analyst consensus estimate of $170.433 million. The quarterly earnings of 7 cents per share beat the analyst estimate.
开放在线课程提供商Coursera Inc（纽约证券交易所代码：COUR）报告称，24财年第一季度季度销售额为1.691亿美元，未达到分析师共识估计的1.70433亿美元。每股7美分的季度收益超过了分析师的预期。
Following are the reactions of analysts after the first-quarter FY24 earnings.
以下是分析师在24财年第一季度财报公布后的反应。
Goldman Sachs – Reiterates Sell, lowers price target from $15 to $10.50.
高盛—重申卖出，将目标股价从15美元下调至10.50美元。
According to analyst Eric Sheridan, revenue disappointed based on elements of lower user funnel conversion, delayed content launches, and a continued weaker enterprise environment.
分析师埃里克·谢里丹表示，由于用户渠道转化率降低、内容发布延迟以及企业环境持续疲软等因素，收入令人失望。
Net revenue retention dropped from 98% to 94% Q/Q as the overall enterprise environment remained challenged, noted the analyst.
分析师指出，由于整体企业环境仍然面临挑战，净收入保留率从每季度的98％下降至94％。
In the near-term, the analyst expects investor debates to remain focused on any recovery in the demand environment across all segments.
分析师预计，在短期内，投资者的辩论仍将集中在所有细分市场需求环境的任何复苏上。
In the longer term, there are still open-ended questions around the timing and magnitude of how enterprises will integrate generative AI into their ecosystems and the role Coursera's platform will play within this context, noted the analyst.
分析师指出，从长远来看，围绕企业如何将生成式人工智能整合到其生态系统的时机和规模，以及Coursera的平台将在这种背景下发挥的作用，仍然存在开放性问题。
Cantor Fitzgerald – Reiterates Overweight, lowers price target from $26 to $21
坎托·菲茨杰拉德——重申增持，将目标股价从26美元下调至21美元
For the first time in the last seven quarters, Coursera delivered revenue below the midpoint of its previously given guidance range, analyst Brett Knoblauch noted.
分析师布雷特·诺布劳赫指出，在过去七个季度中，Coursera的收入首次低于先前给出的指导区间的中点。
Despite Coursera adding 7 million new registered learners, its consumer segment was the biggest underperformer, driven by lower spend, noted the analyst.
分析师指出，尽管Coursera增加了700万新注册学员，但受支出减少的推动，其消费细分市场表现最差。
The analyst added that the management said the weakness was primarily due to North American paid learners, who have meaningfully higher economics than international paid learners.
该分析师补充说，管理层表示，这种疲软主要是由于北美的带薪学习者所致，他们的经济水平明显高于国际付费学习者。
The guidance of $164 million in 2Q24 revenue and revised $700 million (midpoint) revenue forecast in FY24 was the biggest guidance revision the company has made in its history since it went public in 2021, said the analyst.
该分析师表示，24财年第二季度收入预期为1.64亿美元，修订后的24财年收入预测为7亿美元（中点），这是该公司自2021年上市以来历史上最大规模的指导性修订。
Out of the Degrees, Consumer and Enterprise segments, the analyst argued that two are poised to have a better macro backdrop over the coming quarters/years, but noted Coursera's consumer segment is the most meaningful and will have an outsized impact on total revenue growth.
分析师认为，在学位、消费者和企业板块中，两个细分市场有望在未来几个季度/几年中出现更好的宏观背景，但他指出，Coursera的消费板块是最有意义的，将对总收入增长产生巨大影响。
Coursera has enough cash on hand to repurchase ~42% of the company, and at current valuations, the analyst said it would be a missed opportunity if it did not.
Coursera手头有足够的现金回购该公司约42％的股份，按照目前的估值，分析师表示，如果不这样做，那将是一个错失的机会。
Overall, the analyst sees Coursera as the most important education platform across the globe and which is making the right investments that should drive more meaningful growth in the future.
总体而言，分析师将Coursera视为全球最重要的教育平台，并且正在进行正确的投资，这将推动未来更有意义的增长。
Coursera stock lost more than 13% in the last 12 months. Investors can gain exposure to the stock via Neuberger Berman Next Generation Connected Consumer ETF (NYSE:NBCC) and Vanguard Total Stock Market Index Fund ETF (NYSE:VTI)
在过去的12个月中，Coursera的股票下跌了13％以上。投资者可以通过纽伯格伯曼下一代互联消费者ETF（纽约证券交易所代码：NBCC）和Vanguard Total Stock Market指数基金ETF（纽约证券交易所代码：VTI）获得股票敞口
Price Action: COUR shears are trading lower by 13.9% at $10.24 at the last check Tuesday.
价格走势：在周二的最后一次支票中，COUR股票的交易价格下跌了13.9％，至10.24美元。
Photo: Joyseulay via Shutterstock
照片：来自 Shutterstock 的 Joyseulay